This study examines whether and how climate threats (droughts) affect the innovation activities of firms in food industries around the world. We find that firms in countries with a less positive Palmer Drought Severity Index (PDSI), i.e., more drought-like conditions, file more patents and that...

Government ownership of financial intermediaries is pervasive around the world. In this study, we examine the impact of the common government ownership between the brokerage and listed firms on the information production role of brokerage firms. We show that affiliated analysts issue more...

This paper examines whether mandatory corporate social responsibility (CSR) disclosure affects the pay gap between managers and rank-and-file employees in China. We find that mandatory CSR disclosure has a negative impact on the pay gap. This impact is more pronounced in firms with higher...

This study examines the reaction of firms to economic policy uncertainty (EPU) by investing in corporate social responsibility (CSR). Using a Chinese sample, we find a positive and significant relationship between EPU and the CSR engagement of firms. Moreover, we find that firms without...

We examine how economic policy uncertainty (EPU) impacts on Chinese firm's trade credit. We find a significant negative relationship between EPU and both firm's account payable (receiving) and account receivable (offering). These results were more pronounced for non-state-owned enterprises,...

Strong future-time reference (FTR) languages require speakers to grammatically mark future events, while weak-FTR languages do not. Using data from 33 countries, we find that firms in countries where strong-FTR languages are spoken are less likely to engage in innovative activities than those in...

We study how economic policy uncertainty (EPU) influences firms' overseas investment in Chinese listed companies. We find a significant negative relationship between EPU and firms' overseas investment after controlling for firm characteristics and macroeconomic variables. Chinese firms seem to...

Using the turnover of city-level local leaders in mainland China, we construct a measure of political uncertainty and use this measure to explain the change of A-H share premium. Our empirical evidence shows that political uncertainty significantly reduces A-H share premium. The reduction effect...

This study investigates the impacts of lifestyle on municipal solid waste (MSW). Although solid waste is increasingly recognized as a serious worldwide environmental concern, whether and how the lifestyle causally affects MSW are unclear. Based on a unique data of daily littering records of 252...

While the literature has well documented effects of relative income within households on marriage satisfaction and housework distribution, whether and how male labor behavior is affected by the relative income remains unknown. Exploiting the data of Chinese General Social Survey, this study...